Tesla (NASDAQ:TSLA) PT Raised to $1,050.00

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Tesla (NASDAQ:TSLA) had its price objective hoisted by Morgan Stanley from $740.00 to $1,050.00 in a research note released on Wednesday morning, BenzingaRatingsTable reports. Morgan Stanley currently has an underweight rating on the electric vehicle producer’s stock.

A number of other equities research analysts have also commented on TSLA. Citigroup increased their price target on Tesla from $246.00 to $450.00 and gave the company a sell rating in a research report on Thursday, July 16th. ValuEngine lowered shares of Tesla from a buy rating to a hold rating in a research report on Friday, May 1st. BofA Securities upped their price objective on shares of Tesla from $500.00 to $800.00 and gave the stock an underperform rating in a research report on Wednesday, July 22nd. Bank of America lifted their target price on shares of Tesla from $500.00 to $800.00 and gave the stock an underperform rating in a research report on Wednesday, July 22nd. Finally, Cowen raised Tesla from an underperform rating to a market perform rating and upped their target price for the company from $300.00 to $1,100.00 in a report on Thursday, July 23rd. Thirteen investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of Hold and an average target price of $846.94.

NASDAQ TSLA opened at $1,430.76 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 1.25 and a debt-to-equity ratio of 0.98. The business has a 50 day moving average price of $1,259.00 and a 200-day moving average price of $833.62. Tesla has a 52 week low of $211.00 and a 52 week high of $1,794.99. The company has a market cap of $265.22 billion, a price-to-earnings ratio of 745.19, a P/E/G ratio of 24.78 and a beta of 1.19.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, July 22nd. The electric vehicle producer reported $2.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.35) by $4.53. The firm had revenue of $6.04 billion during the quarter, compared to analysts’ expectations of $4.96 billion. Tesla had a net margin of 1.43% and a return on equity of 4.19%. During the same period last year, the company earned ($1.12) earnings per share. On average, equities research analysts anticipate that Tesla will post 1.65 earnings per share for the current year.

In other news, Director Kimbal Musk sold 7,275 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $895.00, for a total transaction of $6,511,125.00. Following the transaction, the director now owns 138,123 shares in the company, valued at approximately $123,620,085. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Vaibhav Taneja sold 500 shares of Tesla stock in a transaction on Monday, May 11th. The shares were sold at an average price of $815.00, for a total transaction of $407,500.00. Following the completion of the sale, the chief accounting officer now directly owns 2,456 shares in the company, valued at approximately $2,001,640. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,910 shares of company stock valued at $24,705,348. Insiders own 23.00% of the company’s stock.

Large investors have recently bought and sold shares of the business. Capstone Financial Group Inc. purchased a new position in Tesla during the second quarter worth about $25,000. Asset Advisors Investment Management LLC acquired a new stake in shares of Tesla in the second quarter valued at approximately $39,000. Beese Fulmer Investment Management Inc. bought a new position in Tesla in the 2nd quarter worth approximately $42,000. MCF Advisors LLC acquired a new position in Tesla during the 1st quarter worth $26,000. Finally, Efficient Wealth Management LLC bought a new position in Tesla in the 1st quarter valued at $26,000. Institutional investors own 50.37% of the company’s stock.

About Tesla

Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.

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